KARACHI: State Bank of Pakistan (SBP) said in a statement on Tuesday that its subsidiary Deposit Protection Corporation (DPC) had announced the formal launch of its website, accessible athttp://www.dpc.org.pk. Through this website DPC has embarked upon a more depositor-centric and responsive public awareness program.
Launching of its own website is part of DPC’s broader communication strategy towards all its stakeholders, which focuses on making it easier for users to learn and locate valuable information about the roles and functions of DPC and its communiqués including circulars and guidelines.
Deposit Protection Corporation is a subsidiary of State Bank of Pakistan, established under the DPC Act 2016. The objective of DPC is to provide protection to depositors, especially small depositors in case of a bank failure. DPC has already put in place appropriate mechanisms necessary to fulfill its objectives. At present DPC provides protection of up to Rs. 250,000 per depositor per bank to all eligible depositors.